In traditional over-the-counter markets, investors trade bilaterally through intermediaries. We
assess whether and how to shift trades on a centralized platform with trade-level data on the …

On many important multi-dealer platforms, customers mostly request quotes from very few
dealers. I build a model of multi-dealer platforms, where dealers strategically choose to …

When seeking to trade in over-the-counter markets, institutional investors typically restrict
both the number of potential counterparties they contact and the information they disclose …

Why do customers in OTC markets form long-term relationships with dealers? Using data
from a large European dealer, we find that the customers who have a strong relationship …

I analyze the interaction between information acquisition and market liquidity in over-the-
counter markets with adverse selection. Buyers acquire information to avoid buying lemons …

We study incentives for post-trade information disclosure in the over-the-counter financial
markets. We argue that execution prices alone do not fully capture the value of the traded …